Canadian Natural Resources Limited (CNQ)

CA — Energy Sector
Peers: EOG  EPD  EQNR  PBR-A  ET  PBR  WMB  FANG  MPLX  KMI 

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Key Metrics & Ratings

  • symbol CNQ
  • Rev/Share 20.7674
  • Book/Share 19.5562
  • PB 2.2734
  • Debt/Equity 0.4268
  • CurrentRatio 0.8638
  • ROIC 0.1316

 

  • MktCap 92611790061.9444
  • FreeCF/Share 3.9314
  • PFCF 11.3858
  • PE 13.8217
  • Debt/Assets 0.2018
  • DivYield 0.0529
  • ROE 0.1647

 

  • Rating A-
  • Score 4
  • Recommendation Buy
  • P/E Score 2
  • DCF Score 5
  • P/B Score 2
  • D/E Score 2

Recent Analyst Ratings

Type Ticker Analyst Firm Previous Rating Current Rating Previous Price Target Current Price Target Date
Downgrade CNQ Evercore ISI Outperform In-line -- -- Jan. 6, 2026
Upgrade CNQ Raymond James Market Perform Outperform -- -- April 9, 2025
Upgrade CNQ Scotiabank Sector Perform Sector Outperform -- -- March 19, 2025
Upgrade CNQ Evercore ISI In-line Outperform -- -- March 7, 2025

News

Is Canadian Natural Stock Still an Income Play for 2026?
CNQ
Published: December 30, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ's dividend durability, low-cost assets and capital discipline make it attractive for income investors heading into 2026.

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image for news Is Canadian Natural Stock Still an Income Play for 2026?
Energy Is, By Far, My Favorite Sector For 2026
AETUF, AM, AR, CNQ, CVX, DVN, ET, EXE, FANG, LB, MPLX, PR, RRC, TPL, TRMLF, TRP, VNOM, WBI, WES, XOM, XOP
Published: December 24, 2025 by: Seeking Alpha
Sentiment: Positive

Energy badly lagged this year, and I underestimated how severe the supply glut would be. I was early - but the long-term thesis remains firmly intact. Today's oil prices aren't sustainable. Low prices are forcing discipline, squeezing supply, and creating a rare setup where sentiment and fundamentals are deeply misaligned. With positioning extremely bearish and costs rising, I see energy setting up for a powerful reversal - offering both income and upside for patient investors.

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image for news Energy Is, By Far, My Favorite Sector For 2026
BTE or CNQ? Canada's Oil Investors Weigh 2026 Trade
BTE, CNQ
Published: December 22, 2025 by: Zacks Investment Research
Sentiment: Positive

BTE's streamlined strategy, rising cash flows, and earnings momentum make it stand out against steady CNQ heading into 2026.

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image for news BTE or CNQ? Canada's Oil Investors Weigh 2026 Trade
Undercovered Dozen: Canadian Natural Resources, Duke Energy, PennyMac Mortgage And More
CNQ, DUK
Published: December 21, 2025 by: Seeking Alpha
Sentiment: Neutral

This week's Undercovered Dozen highlights 12 lesser-followed stocks and funds, each with distinct catalysts or value opportunities. This week's edition covers articles published between Dec. 12 and Dec. 18, offering fresh investment ideas. The series aims to inspire discussion and help investors discover overlooked opportunities in the market.

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image for news Undercovered Dozen: Canadian Natural Resources, Duke Energy, PennyMac Mortgage And More
I Couldn't Be More Bullish On These 2 Undervalued Dividend Plays
CNQ, NNN, SCHD, USO, VNQ, XLE
Published: December 17, 2025 by: Seeking Alpha
Sentiment: Positive

The market is pricing in far more pessimism than the fundamentals justify for these 2 blue-chip dividend stocks. Yields this high from these stocks have historically led to powerful long-term returns. Valuation gaps like this rarely stay open for long, which makes these compelling buys right now.

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image for news I Couldn't Be More Bullish On These 2 Undervalued Dividend Plays
Canadian Natural's 2026 Budget Aims to Expand Assets and Production
CNQ
Published: December 17, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ targets 3% production growth in 2026 with a C$6.3B budget, disciplined capital and a balanced liquids-gas mix to drive shareholder value.

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image for news Canadian Natural's 2026 Budget Aims to Expand Assets and Production
Canadian Natural Resources: Record Production And Export Surge Unlock 30% Upside
CNQ
Published: December 12, 2025 by: Seeking Alpha
Sentiment: Positive

I am upgrading Canadian Natural Resources to 'Strong Buy' as Q3 record production meets surging Asian demand via the TMX pipeline. Geopolitical tensions and sanctions are allowing Canadian oil to displace Russian and US barrels in China. CNQ's technical analysis signals a breakout, supporting a 20–30% upside potential.

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image for news Canadian Natural Resources: Record Production And Export Surge Unlock 30% Upside
3 High-Yield Oil Stocks for Stable Income in a Bearish Market
CNQ, CVX, KMI
Published: December 11, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ, CVX and KMI offer yields over 4% and stable cash flow - key strengths in a bearish oil market heading into 2026.

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image for news 3 High-Yield Oil Stocks for Stable Income in a Bearish Market
This Dividend Aristocrat Turned $100k Into $4 Million in 25 Years
CNQ
Published: December 09, 2025 by: 24/7 Wall Street
Sentiment: Positive

When you first think about a Dividend Aristocrat stock, it's likely not Canadian Natural Resources (NYSE:CNQ ).

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image for news This Dividend Aristocrat Turned $100k Into $4 Million in 25 Years
Is Canadian Natural Resources Limited (CNQ) Stock Outpacing Its Oils-Energy Peers This Year?
CNQ
Published: December 03, 2025 by: Zacks Investment Research
Sentiment: Positive

Here is how Canadian Natural Resources (CNQ) and Natural Gas Services (NGS) have performed compared to their sector so far this year.

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image for news Is Canadian Natural Resources Limited (CNQ) Stock Outpacing Its Oils-Energy Peers This Year?
How CNQ Turned Dividend Discipline Into Long-Term Strength
CNQ
Published: December 03, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ's 25-year dividend growth streak and disciplined capital allocation show how steady payouts and cost control fuel long-term shareholder strength.

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image for news How CNQ Turned Dividend Discipline Into Long-Term Strength
Is CNQ Still a Buy After Its Recent 52-Week High Breakout?
CNQ
Published: November 26, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ's fresh 52-week high spotlights record production, strong cash flow and disciplined returns fueling its momentum.

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image for news Is CNQ Still a Buy After Its Recent 52-Week High Breakout?
4 Must-Buy Efficient Stocks to Strengthen Your Portfolio Returns
ARLO, CLS, CNQ, TCMD
Published: November 19, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ stands out in a screen highlighting four stocks with efficiency ratios above industry averages and solid earnings surprise records.

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image for news 4 Must-Buy Efficient Stocks to Strengthen Your Portfolio Returns
CVX or CNQ: Which Energy Giant Looks Stronger Right Now?
CNQ, CVX
Published: November 19, 2025 by: Zacks Investment Research
Sentiment: Negative

CNQ's record production, low-decline assets, and cleaner valuation stand out as CVX faces softer prices, cost pressures, and earnings headwinds.

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image for news CVX or CNQ: Which Energy Giant Looks Stronger Right Now?
November's 5 Dividend Growth Stocks With Yields Up To 6.96%
AVA, BLK, CNQ, GIS, K, MAIN, PBJ, STT, TROW
Published: November 18, 2025 by: Seeking Alpha
Sentiment: Positive

November's monthly screen brings us 25 more interesting names to consider for further due diligence, and 5 of those that we'll take a closer look at. We have a variety of names making the list this month, including a BDC, a beaten-down consumer staples company and an energy play. A couple of these this month look like they are interesting value plays for a market that looks otherwise highly stretched.

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image for news November's 5 Dividend Growth Stocks With Yields Up To 6.96%
Are Oils-Energy Stocks Lagging Canadian Natural Resources Limited (CNQ) This Year?
CNQ
Published: November 17, 2025 by: Zacks Investment Research
Sentiment: Negative

Here is how Canadian Natural Resources (CNQ) and Ultrapar Participacoes S.A. (UGP) have performed compared to their sector so far this year.

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image for news Are Oils-Energy Stocks Lagging Canadian Natural Resources Limited (CNQ) This Year?
Canadian Natural Resources: Buy This Income Powerhouse While It's Undervalued
CNQ
Published: November 11, 2025 by: Seeking Alpha
Sentiment: Positive

Canadian Natural Resources offers a 5.3% dividend yield, nearly five times that of the S&P 500, and trades at a discounted valuation. CNQ's diversified, long-life asset base, recent accretive acquisitions, and robust production growth drive strong cash flows and shareholder returns. The company maintains a BBB+ credit rating, low leverage, and a 25-year dividend growth streak, supporting income and value investors.

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image for news Canadian Natural Resources: Buy This Income Powerhouse While It's Undervalued
Canadian Natural Q3 Earnings Beat Estimates, Expenses Increase Y/Y
CNQ
Published: November 10, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ posts a Q3 earnings beat on higher output and revenue gains, while rising expenses and lower oil prices weigh on profit.

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image for news Canadian Natural Q3 Earnings Beat Estimates, Expenses Increase Y/Y
Canadian Natural Resources expects higher production, lower spending in 2026
CNQ
Published: November 07, 2025 by: Reuters
Sentiment: Positive

Canadian Natural Resources on Friday forecast a modest rise in production for 2026 while lowering total capital spending from this year's levels, signaling a continued focus on efficiency and disciplined growth.

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image for news Canadian Natural Resources expects higher production, lower spending in 2026
Canadian Natural Resources Limited (CNQ:CA) Q3 2025 Earnings Call Transcript
CNQ
Published: November 06, 2025 by: Seeking Alpha
Sentiment: Neutral

Canadian Natural Resources Limited ( CNQ:CA ) Q3 2025 Earnings Call November 6, 2025 11:00 AM EST Company Participants Lance Casson - Manager of Investor Relations Scott Stauth - President & Director Victor Darel - CFO & Principal Accounting Officer Conference Call Participants Dennis Fong - CIBC Capital Markets, Research Division Manav Gupta - UBS Investment Bank, Research Division Carlos Andres E. Escalante - Wolfe Research, LLC Greg Pardy - RBC Capital Markets, Research Division Menno Hulshof - TD Cowen, Research Division Alexa Petrick - Goldman Sachs Group, Inc., Research Division Presentation Operator Good morning.

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image for news Canadian Natural Resources Limited (CNQ:CA) Q3 2025 Earnings Call Transcript
Canadian Natural Resources (CNQ) Upgraded to Strong Buy: Here's What You Should Know
CNQ
Published: November 06, 2025 by: Zacks Investment Research
Sentiment: Positive

Canadian Natural Resources (CNQ) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

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image for news Canadian Natural Resources (CNQ) Upgraded to Strong Buy: Here's What You Should Know
Canadian Natural Resources (CNQ) Q3 Earnings and Revenues Top Estimates
CNQ
Published: November 06, 2025 by: Zacks Investment Research
Sentiment: Positive

Canadian Natural Resources (CNQ) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.71 per share a year ago.

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image for news Canadian Natural Resources (CNQ) Q3 Earnings and Revenues Top Estimates
Canadian Natural to Report Q3 Earnings: What's in the Offing?
CNQ
Published: November 04, 2025 by: Zacks Investment Research
Sentiment: Positive

CNQ gears up for Q3 results as Oil Sands output rises and new Montney assets fuel potential revenue growth.

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image for news Canadian Natural to Report Q3 Earnings: What's in the Offing?
Q3 Energy Earnings: 4 Stocks That Could Surpass Forecasts
CLMT, CNQ, DK, NOG
Published: November 04, 2025 by: Zacks Investment Research
Sentiment: Positive

Energy stocks like CNQ, DK, CLMT and NOG have the potential to deliver better-than-expected Q3 earnings.

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image for news Q3 Energy Earnings: 4 Stocks That Could Surpass Forecasts
Canadian Natural Resources: The Contrarian AI Play Nobody's Talking About
CNQ
Published: October 29, 2025 by: Seeking Alpha
Sentiment: Positive

Canadian Natural provides an AI-resistant hedge with stable, non-discretionary energy demand, offering protection from tech disruption while benefiting from potential AI-driven energy consumption growth. Its long-life, low-decline oil sands assets and low breakeven ($40s WTI) ensure resilient margins and strong cash generation across commodity cycles. With 5%+ yield, 22% dividend CAGR, and a pending 100% FCF payout post $12B net debt, CNQ offers both income stability and upside.

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image for news Canadian Natural Resources: The Contrarian AI Play Nobody's Talking About
Why CNQ Stock Remains a Buy Despite a 10% Decline in a Year
CNQ
Published: October 27, 2025 by: Zacks Investment Research
Sentiment: Neutral

CNQ's 10% stock drop hasn't shaken investor confidence, as steady production and strong cash flows keep it a compelling buy.

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image for news Why CNQ Stock Remains a Buy Despite a 10% Decline in a Year
Amid Soft Prices, 3 Canadian E&P Stocks Keep Their Edge
AETUF, BTE, CNQ
Published: October 22, 2025 by: Zacks Investment Research
Sentiment: Neutral

Following a careful analysis of the Zacks Oil and Gas - Exploration and Production - Canadian industry, we advise focusing on shares of CNQ, AETUF and BTE.

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image for news Amid Soft Prices, 3 Canadian E&P Stocks Keep Their Edge
These 2 Oils and Energy Stocks Could Beat Earnings: Why They Should Be on Your Radar
CNQ, GEV
Published: October 20, 2025 by: Zacks Investment Research
Sentiment: Positive

The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.

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image for news These 2 Oils and Energy Stocks Could Beat Earnings: Why They Should Be on Your Radar
Will Canadian Natural Resources (CNQ) Beat Estimates Again in Its Next Earnings Report?
CNQ
Published: October 17, 2025 by: Zacks Investment Research
Sentiment: Positive

Canadian Natural Resources (CNQ) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

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image for news Will Canadian Natural Resources (CNQ) Beat Estimates Again in Its Next Earnings Report?
CNQ vs. SU: Which Canadian Oil Giant is Worth Buying Now?
CNQ, SU
Published: October 17, 2025 by: Zacks Investment Research
Sentiment: Positive

Canadian Natural's low-cost growth, rising production and unmatched dividend record make it the clear winner over Suncor in Canada's oil sands race.

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image for news CNQ vs. SU: Which Canadian Oil Giant is Worth Buying Now?

About Canadian Natural Resources Limited (CNQ)

  • IPO Date 2000-07-31
  • Website https://www.cnrl.com
  • Industry Oil & Gas Exploration & Production
  • CEO Norman Murray Edwards
  • Employees 10640

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers synthetic crude oil (SCO), light and medium crude oil, bitumen (thermal oil), primary heavy crude oil, and Pelican Lake heavy crude oil. Its midstream and refining assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. As of December 31, 2020, the company had total proved crude oil, bitumen, and NGLs reserves were 10,528 million barrels (MMbbl); total proved plus probable crude oil, bitumen, and NGLs reserves were 13,271 MMbbl; proved SCO reserves were 6,998 MMbbl; total proved plus probable SCO reserves were 7,535 MMbbl; proved natural gas reserves were 12,168 billion cubic feet (Bcf); and total proved plus probable natural gas reserves were 20,249 Bcf. It operates primarily in Western Canada; the United Kingdom portion of the North Sea; and Offshore Africa. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.